According to @GreeksLive, BTC’s month-long drawdown and ETH’s two-week pullback have each exceeded 10 percent from their all-time highs, while weakness in U.S. equities and the WLFI index has shifted sentiment from optimism to pessimism. Source: @GreeksLive, Sep 5, 2025. Large-block put option flow and its share of total volume are rising, signaling risk aversion as the dominant theme. Source: @GreeksLive, Sep 5, 2025. Implied volatility has rebounded, with BTC IV across terms near 40 percent and ETH primary IV just below 70 percent, highlighting an IV tug-of-war. Source: @GreeksLive, Sep 5, 2025. September is the third-quarter delivery month, and historical rollover and settlement effects typically weaken performance, leaving the options market broadly cautious on September. Source: @GreeksLive, Sep 5, 2025.